Ontario · Receivership (court-appointed)
Motion Record of Bridging Receiver
Application / notice of application · 10 April 2024
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What we verified from this filing10 verified
- commencement date10 April 2024
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCV-24-00718057-00CL
- provinceONTARIO
- appointeeMNP
- appointee roleReceiver
- applicantPricewaterhouseCoopers Inc.
- statutory basissection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- secured creditorsnote: Amount owing under Assumption Agreement dated July 7, 2017 (assumed principal $3,005,000 of Thomas Canning's former debt to Bridging); interest accrues at 10% per annum. · page: 41 · as of: 2024-03-31 · amount: 6750594.1 · debtor: 2581150 Ontario Inc. · creditor: Bridging Finance Inc. (as agent for Bridging Income Fund LP), through PricewaterhouseCoopers Inc. as Bridging Receiver · currency: CAD · security: Assumption GSA over all personal property dated July 7, 2017; Assumption Charge over Maidstone Property, principal amount $3,005,000, registered July 7, 2017; PPSA registration June 28, 2017 (all classes of collateral other than consumer goods)
- secured creditorsnote: Amount is under the Loans (aggregate principal originally $21 million); assigned from Skymark Finance Corporation to Bridging pursuant to Assignment Agreement dated Feb 15, 2024, approved by court order Feb 22, 2024. Loans in default; BIA Notice and Demand Letter issued Dec 22, 2022. As at Feb 29, 2024, aggregate figure (Loans+Assumption Agreement) stated as $38,842,553.49 in prose overview sections. · page: 41 · as of: 2024-03-31 · amount: 32091959.39 · debtor: 2581150 Ontario Inc. · creditor: Bridging Finance Inc. (as agent for Bridging Income Fund LP, formerly Sprott Bridging Income Fund LP), through PricewaterhouseCoopers Inc. as Bridging Receiver · currency: CAD · security: GSA over all personal property (assigned from Skymark) dated July 7, 2017; Charge over Maidstone Property, principal amount $3,005,000 (originally registered by Skymark, transferred to Bridging April 10, 2024); PPSA registration (all classes of collateral other than consumer goods)